Need credit

[mnewsham]

Turned 18 sunday ^_^

Tuesday comes and i realized hey... I can get a credit card Applied for a discover student card and was told I have insufficient credit history to be approved. So my question is, how do I get credit without a credit card? I was thinking buying something with Paypal's "Bill me later" thing and paying it off, would that help my score and credit history? Going into college is going to be pretty rough without some form of credit! (I cant afford a portable laptop all at once).

TLDR; How to get credit when I cant get a student credit card.

 

[TakeNoPrisoners]

Apply for a student card and get your parents to co-sign for you. Otherwise without a cosigner somebody under 21 needs to make enough to pay off the entire credit limit every month. This is how I got mine at 18. When they do this they base the credit limit off of the cosigners salary. Which means you also get a larger credit limit.

 

[Deleted member 284126]

Turned 18 sunday ^_^

Tuesday comes and i realized hey... I can get a credit card Applied for a discover student card and was told I have insufficient credit history to be approved. So my question is, how do I get credit without a credit card? I was thinking buying something with Paypal's "Bill me later" thing and paying it off, would that help my score and credit history? Going into college is going to be pretty rough without some form of credit! (I cant afford a portable laptop all at once).

TLDR; How to get credit when I cant get a student credit card.

The most important advice when it comes to credit cards:

Never go into debt with credit cards by not paying off the monthly bill 100%. These companies are like loan sharks.

 

[Lifted]

Best way if you don't have a job, or have a very low paying job, is to get mommy or daddy to add you to one of theirs, or possibly get a separate joint one with you.

 

[amdhunter]

Keep applying until someone approves you.

 

[TakeNoPrisoners]

A new law was signed into effect this year that said that persons under 21 cannot get a credit card unless they make enough to pay for the balance every month. Don't keep applying if you can't do this.

 

[mnewsham]

Thing is my mom sucks with money (I know I shouldn't be rude BUT) she never pays stuff on time and has a mid low 500's credit score! My father has only recently been let back in the country (now doing Post-doc work) and isn't anywhere nearby. So if I can prove I make ~20,000 a year I will get approved without a cosigner?? (Got a job offer the other day not sure if I will take it.)

 

[rcpratt]

Can you afford a non-portable laptop?

 

[mnewsham]

Can you afford a non-portable laptop?

I own this big heavy G73JH, but it is too big and heavy to take with me everyday to school.

 

[RockinZ28]

Thing is my mom sucks with money (I know I shouldn't be rude BUT) she never pays stuff on time and has a mid low 500's credit score! My father has only recently been let back in the country (now doing Post-doc work) and isn't anywhere nearby. So if I can prove I make ~20,000 a year I will get approved without a cosigner?? (Got a job offer the other day not sure if I will take it.)

When I had 0 credit history, I applied multiple times online and at stores without success.

Had to go in person to my bank, show them my W-2, and then I got approved for a $500 limit + $40 annual fee. You also could potentially have to put up the same amount in cash to match your credit limit.

 

[jupiter57]

Ooh, Ooh, Ooh!
Be sure which ever card you get gives you $1.50 back for every $1.00 you spend.
It's all the rage 'round here!

 

[mnewsham]

When I had 0 credit history, I applied multiple times online and at stores without success.

Had to go in person to my bank, show them my W-2, and then I got approved for a $500 limit + $40 annual fee. You also could potentially have to put up the same amount in cash to match your credit limit.

I'm making about 1k a month at the moment so i might end up trying this.

 

[mnewsham]

Bump for anymore advice.

 

[OCGuy]

I have a way that I used that allowed me to purchase a house when I was 19.

Student credit cards and secured credit cards are good ways to start a credit history, if you dont have anyone who will co-sign on a car loan with you.

 

[OCGuy]

A new law was signed into effect this year that said that persons under 21 cannot get a credit card unless they make enough to pay for the balance every month. Don't keep applying if you can't do this.

....

 

[xj0hnx]

Try to get a gas card, you don't spend a whole lot with it so it's easy to pay off. Even if you don't have a car, you can put gas in friends/family's cars for cash to pay it off, buy snacks, smokes, cokes, whatever, as long as you are paying on time every month it will be good for your credit.

 

[RockinZ28]

I'm making about 1k a month at the moment so i might end up trying this.

Yea once you get your foot in the door, you'll be golden as long as you don't F up. Within a year I was able to get approved for a $2,000 limit no fee card. Just got another card and granted a $6,500 limit no fee. Get $200 cashback (maybe $300 if my upgrade request goes through) for spending $500 in 3 months.

CC's should make me $300-$400 this year. Not bad for a credit history barely over a year. Pay off your balance in full and you'll not pay a cent in interest.

 

[mnewsham]

Yea once you get your foot in the door, you'll be golden as long as you don't F up. Within a year I was able to get approved for a $2,000 limit no fee card. Just got another card and granted a $6,500 limit no fee. Get $200 cashback (maybe $300 if my upgrade request goes through) for spending $500 in 3 months.

CC's should make me $300-$400 this year. Not bad for a credit history barely over a year. Pay off your balance in full and you'll not pay a cent in interest.

Damn, yeah i plan on buying a laptop for fairly cheap then pay that off over a two month period maybe 3. After that just going to use it for emergency money.

 

[xSauronx]

if you can save $300 - $500 then you can go to your bank and ask for a secured card so you can build your credit. thats what my sister did years ago. $500 down and they put it in escrow and give you a $500 limit. if you are paying off on time after a year then you get your money back.

 

[goog40]

I own this big heavy G73JH, but it is too big and heavy to take with me everyday to school.

Sell your current laptop. Problem solved.

 

[mnewsham]

Sell your current laptop. Problem solved.

Need this for my engineering class but don't want to have to lug it to Chinese, English, and intro to political sciences.

 

[LookBehindYou]

Get one of those shitty secured credit cards use it, pay the balance off every month, after six months to a year, you should be well on your way.

 

[Mermaidman]

Do you need a real credit card right away? Why not continue using your debit card while you slowly build your credit?

(Back in the old days, a person could 'build credit' by paying recurring bills on time. e.g. utility bills, phone bill, apartment rent, anything that is associated with your social security number. Don't know if this is still true nowadays.)

 

[mnewsham]

Do you need a real credit card right away? Why not continue using your debit card while you slowly build your credit?

(Back in the old days, a person could 'build credit' by paying recurring bills on time. e.g. utility bills, phone bill, apartment rent, anything that is associated with your social security number. Don't know if this is still true nowadays.)

I dont actually have any recurring bills paid BY me, I pay my mom for my phone every month but SHE is the one who actually pays the bill.

Looks like i will either need to take a job with more hours or get a secured card.

 

[RockinZ28]

Do you need a real credit card right away? Why not continue using your debit card while you slowly build your credit?

(Back in the old days, a person could 'build credit' by paying recurring bills on time. e.g. utility bills, phone bill, apartment rent, anything that is associated with your social security number. Don't know if this is still true nowadays.)

Don't think so, not here anyway. I'd been paying rent, cable, gas and electric under my name for a year. Credit history had no record. Most don't report to credit bureaus, unless you miss payments. Then it will impact your score, negatively.